Short sellers are notorious for artificially driving down stock prices of otherwise healthy companies — or at least companies that have a fighting chance to pull out of murky waters.

The downfall of financial firms including AIG, Lehman Brothers, Merrill Lynch, including the downward pressure on WaMu and Morgan Stanley are widely beleived to have been at the mercy of unscrupulous short sellers.

Short selling has gotten so out of hand that the SEC has amped up efforts to curb market manipulation.

Jv at Marketing, Finance and Obama says “The idea is that if enough people do this, short selling will be limited, and share price will increase. Of course, it’s also just nice to be part of the effort, which I am. Go WaMu!!”

“WaMu stockholders are taking their shares off the market by placing ‘Good Until Canceled’ sell orders on the shares they own, at prices considered to be unattainable. With these orders place, the shares are not eligible to be shorted.”

Two ways to help Wamu!

Put in a GTC order to fight shorts:
1. put in a sell order
2. make it a limit order, not market order
3. set the price at $7.50 +
4. set expiration as GTC (Good Til Canceled), and leave the expiration
date blank.

OR

Help Wamu, Open a Free Checking Account With only $1
Your deposit is FDIC insured up to 100,000$

If you aren’t an investor — you can help Wamu simply by opening a free checking account. More accounts at Wamu give big firm investors more faith; they will throw their money at if we do too. $1 is all it takes. No she aint a starving child in Africa but she is a bank worth saving:

Find out more about what investors of WM are talking about

Google Finance Boards for Wamu

Yahoo Finance Boards for Wamu

Update:
So far investors have amassed nearly 2 million shares (approximate) from tallies on Yahoo and Google Finance Boards.

Plus some traction at Digg

Being that 11% of the stock is owned by individual investors not sure how much of an impact this is gonna have but hey it’s great to see people together - share ideas - learn a thing or two.

Bolstered by the recent surge in Nude Tellers and accompanying lines of customers aching to put their money where the nudists are, the Nuns released in a statement this afternoon –”We think their brand is moving in a direction that is consistent with the ideals that are at the very heart and soul of nudism. By EOD tomorrow we hope to have not only refitted all WaMu ATMs with a new pro-nude logo, but to also have equipped all WaMu branches with an army of Nude tellers to encourage increased deposits. ”

Story from CNBC
http://www.cnbc.com/id/25677167/for/cnbc/

**dont believe everything you read at CNBC**

Thanks =)

You know, salvo the 90 or so comments I have sitting in my inbox here this place has been rather quiet. Ah well, it’s just me being me. I thought I’d come by and say hello, just in case you’ve missed me. I’ve missed you too.

The last article I posted was pretty dumb haha. So I took it down, but hey! You should be glad to know that I havent turned a blind eye to beautiful millionster. In fact while everyone’s been out toiling away at their usuals, I have been secrectly working on the big M. She’s there. I dunno what I’m waiting for really. I just need to flip the switch.

In other news Ive officially made the ranks in to the 6 figures club! Only 4 years ago I was making $0 how cool is that? *laughs*

Well I’m just sitting here in my new digs, and waiting for a meeting. I’ll be back. This place tugs at my heart. Sure it’s been a minute, but it won’t be much longer. I hope.

So yes I’ve been sucked into the myspace vortex of death playing mister popular (it’s fun really lol), but I wonder what all my old blogging buddies have been up to… I’m not brave enough to venture into the blogosphere having been away so long. People get mad when you forget about them! LoL.

Well I havent forgotten. Just waiting for the right moment I guess!

Juan.

Without further ado, the frills free oh my god my stock price dropped by 65% in one day edition!

Ana presents >Start early for retirement savings! posted at >DebtFREE-Revolution.

Jorge H. presents >Powershares QQQ (Symbol: QQQQ) - Index and ETF posted at >My Adventures into The Street, saying, “The first in a series of index and ETFs most widely used by options traders. The first is the popular Powershares QQQ (Symbol: QQQQ)”

Matthew Paulson presents >Unhappy With Your Bank? Switch to a Competitor and Cash-In posted at >Getting Green.

Ian Welsh presents >Bernanke Cuts Another Quarter posted at >The Agonist, saying, “What this means for you is simple enough: the prices of food, heating oil and transportation will keep going up. If you’re in an inflated housing market, expect the value of your main asset to drop. And expect inflation to break out from food and energy into a lot of consumer goods.”

Ted Reimers presents >College Scholarships and the College Admission Essay posted at >College Scholarships, saying, “The college admission essay can be the deal breaker in college scholarships.”

poetloverrebelspy presents >Do Vacations Spoil Everyday Budgeters? posted at >Less Than a Shoestring, saying, “Our values travel with us when we travel: if you have accepted and practice strict budgeting measures at home, there is no reason why you can’t follow the same when on vacation.”

ispf presents >Should Parents Try To Influence Their Children’s College Applications? posted at >Grad Money Matters.

Logan Flatt, CFA presents >“Growth Investing” Nothing More Than Rank Speculation posted at >PowerWealth.com, saying, “Thanks to decades of promulgation by the financial services industry, it is now common for many people not unlike Mr. Authers to mistakenly use the terms “value” and “growth” to describe two contrasting styles of investing. However, there are not two styles of investing. Instead, there is investing and there is speculation.”

Jason Elder presents >Chapter 7 Bankruptcy - 5 Good Reasons To File Bankruptcy posted at >A Bankruptcy Lawyer’s Blog, saying, “Chapter 7 bankruptcy is a popular form of bankruptcy in the United States. For some, it is the last resort of those who have experienced a sudden job loss or a major medical issue that they had no control over. Through bankruptcy liquidation filed under this chapter the debtor can get a fresh financial start by receiving a discharge of all debts.”

Allen Taylor presents >Planning Retirement Stock - What You Need To Know To Make A Fortune With Your Investing posted at >Investing World Today, saying, “When it comes to planning retirement, stock is very important helping you achieve your retirement goals. The stock market is one of the main avenues of revenue for many investors today, and it can be a great source of revenue for you. Combined with real state, the stock market is probably one of the most famous investment vehicles there is today.”

Thomas Humes presents >Financial Freedom - Learn How to Always Be Ahead of the Game posted at >Wealth Building World, saying, “The following are my top tips and recommendation for anyone seeking to put an end to the rat race and achieve financial freedom.”

FIRE Getters presents >Car Pool, Ride Share, Hitch Hike your way to Fun & Dollars! posted at >FIRE Finance.

Aahz presents >A Bathroom Full Of Cash - Top 5 Tips For Saving posted at >Philaahzophy, saying, “This is my first ever submission to Twenty Something Finances!”

LIVING OFF DIVIDENDS presents >Making $3,000/Month In Passive Income posted at >LIVING OFF DIVIDENDS, saying, “Here’s an inspiring way to make money each month with minimal effort.”

KCLau presents >Does Compound Interest Really Apply to Unit Trust Investment? posted at >KCLau’s Money Tips, saying, “Unit trust is an easy means of obtaining a spread of investment. It is suitable for passive investor, who doesn’t want to, or doesn’t have extra time to invest their cash savings. For an investment capital to grow, we must not underestimate the power of compound interest - what Einstein calls the “8th wonder of the world.””

Ralph Jean-Paul presents >Managing Your money posted at >Potential 2 Success, saying, “Some quick and practical ways to start mastering your money and increasing your wealth”

Nadege presents >Financially stAble posted at >Financially stAble.

kdickson presents >Buzz: Financial Gravity - is it holding you back? posted at >InvestorBlogger, saying, “Have you got concrete shoes when it comes to money?”

ChristianPF presents >6 Tips for a Debt Free Christmas posted at >Money in the Bible | Christian Personal Finance Blog, saying, “6 Tips for a Debt Free Christmas”

Sarah Aswell presents >Britney Spears is spending, Sarah is saving « BROOD posted at >BROOD, saying, “Even though Britney Spears makes a lot more than me, I’m making smarter choices with my money.”

Super Saver presents >How Much is Enough Money? posted at >My Wealth Builder.

Silicon Valley Blogger presents >10 Hot Jobs In Big Demand: How My Job Stacks Up » Silicon Valley Blog About Money posted at >The Digerati Life, saying, “hot jobs!”

Mr Credit Card presents >Balance Transfer Credit Cards Video Tutorial and Guide posted at >Ask Mr Credit Card.

That concludes this edition. Submit your blog article to the next edition of
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On Sunday I burned several hours familiarizing myself with the soundtrack of the recently released Guitar Hero 3 (on Xbox and PS3) and I’m not much of a rock aficionado but a few tunes had me hooked. I spent much of Sunday night looking for those same songs to put in my ipod and watching I Love New York 2 while working out in the gym.

So, yeah seems like a typical 20-something, do-nothing (productive) weekend , and to be honest I do feel a little guilty about not writing much or working on any of my business stuff — kind of — haha.

Yes, for once I wasn’t being a crazy workaholic — sanity comes at the price of a few beers and hours of vegging out in front of an Xbox (or Wii).

Anyway how was your weekend? Did you make any money?

Ugh! I sould like a salesperaon, but let me just say this is not an ad!

Since I only need it to make calls in the San Francisco area, I don’t need a big expensive plan, at least not for the next few months. And I’ve been making calls a lot more than normal. I heard somewhere that you could put your phone on hold for up to 6 months at a time — which might be cheaper than straight out canceling… I think it’s like $20/mo (x6 = 120) still cheaper than canceling at $150. Who know’s maybe in 6 months time I might want to use my Sprint service again.

I think I might actually try AT&T next time I go with a national carrier. Not sure though. I hate wasting money on stuff I don’t need — which is why despite the fact that I really really want a Blackberry, I can’t justify the additional “data” cost of $35/mo in addition to a $50 calling plan — especially when I already have the internet at home.

I took a look at the helio phones for about 2 seconds and then ran away screaming. Their cheapest plan is $65 and for that much I could have a Blackberry.

Do you see how difficult it is to make a choice?

For now I just need to make lots of calls, so it’s Metro or die.

Anyway, Metro has only a handful of phones to chose from, but these guys are the ones I’m looking at. Like i said I’m going for cheap so I’ll probably get the $99 Nokia.

I know I said this wasn’t an ad, but just in case your curious you can click on a phone for info on that phone with MetroPcs Service:

I was almost tempted to buy a phone on craigslist but that’s too much work — this is getting shipped next day to my office.

But oh, I’d really like to have a crackberry!

In case you were wondering why I hadn’t been around for much of the summer, this in part explains why

I should have known something was up when the guy that was renting the house out told me there was no written lease. To make matters worse there was a “previous tenant” still living in the house that just was not ready to let go yet. I didn’t mind so much because I just wanted to get out of “looking for a place to live mode” and back into “doing what I normally do” mode. I was in a rush and possibly blinded by my love for the picturesque neighborhood that was not unlike my kick-ass community in west downtown San Jose – trees, parks, shops, bars, gym, etc. It was great (and I miss it terribly.)

My old digs in downtown San Jose

I lived here, isnt it nice? (Too expensive!)

A Beautiful Day in the Neighborhood
My new temporary roommate, Mr. Grumpy, on the other hand was not so great. When my friends and I pulled up to the house to unload the moving truck, we sat on the curb for nearly 30 minutes while Mr. Grumpy argued it out with the owner of the house. To my astonishment even one of the roly-poly neighbors came to add his two cents to the argument. Things were getting pretty shady, but my friends and I were both tired and hungry from moving tons of heavy junk down four flights of stairs. En fin, I didn’t pay much attention to what was being said –though, I specifically recall a comment about the “thugs” sitting on the curb “just waiting to throw a drug party” – which couldn’t have been farther from the truth.

Suffice it to say that the tone was set for the nightmare that was to be, but of course that was only the beginning. To save you the pain of reading too much prose, let me summarize my experience with the house by saying that at night that place was straight creepy ya’ll!

*not the actual house but just as creepy

Cont’d: What’s In The Attic? »

Well like I said it totally puts a roadblock in my desire to do anything else — but is nonetheless a necessity for an “exceptional life” per my soon to be discussed “6 Pillars of Greatness” — only problem is I’m up to my ears in “infatuatedness” so figuring out just how to balance things out is going to take a minute…

Last night I was perfectly intent on going to bed at 9pm and getting up at the butt-crack of dawn to do my morning mile — but no — I get sucked into a 3 hour conversation and don’t make it to bed until 1am. No, more like 2am — since it took me an hour to get over the high of talking to someone who thinks “I’m the hottest guy in the world”. My cheeks hurt from smiling so much. To say the least –it was well worth coming into work late and not being a workaholic for one night.

Anyway, I wanted to post a “daily” to kind of mellow out the serious tone from my previous posts — that isn’t to say of course that I won’t be back to it. I’ve really enjoyed taking a sort of controversial position but I should point out that my ‘philosophy’ isn’t for everyone. I’ve gotten a couple of emails from folks either being offended, or offering some sort of rebuttal, which is really great because I love dialog. Maybe I am just another punk-face gen-y guy who doesn’t know any better — certainly me falling in love from time to time might allude to some of the inherent foolishness of youth to which I may be susceptible.

But like it or not I’m a trail blazer, foolish, young and full of ambitious energy!

Let the jading begin! Bring it on, bring it on!

Yee-haw! I’m having a great day, I dunno about you people!

Today we live in spite of the efforts of our timeless heroes as slaves to what appears to be a nameless tyrant. Before when oppression had a name, a face and a crown, it was easy for people to identify and unite against a common enemy. In modern times, tyranny has become more advanced by relying on the same impregnable power of ideas that have afforded us our freedoms through symbols like the red cap – how ironic.

Of Queens and Carrots
Believe it or not there are still kings and queens prancing around the nation forcing their will on free citizens. And no, they aren’t beheading people or snatching their first born to do it all, — that’s way too much work and totally not worth the effort — plus a dead body is a non-gold-producing body. There’s a much easier, more cash-increasing way to get all the gold they can lay their grubby hands – it involves an ass and a carrot…

So, guess who’s the ass… … …. Now guess what they do with the carrot! (Get your mind out of the gutter please)

That’s right you, and well, me. Sadly, we are the asses. The carrot is gleefully dangled over our shoulders, a harness is placed over our back and we mill along chasing that carrot and dragging some plow behind leaving milk and honey as we pass. We don’t care about the milk and honey because we are asses and we need carrots. In fact we don’t even notice that while we sweat, and cry, and strain over reaching that carrot and we pull and tug and struggle that plow holding us down, the kings and queens are behind us scooping up all that precious milk and honey. To make matters worse, the carrot dangling over our shoulders is not even a real carrot!

They call it cutting their expenses, of course – after all, why use a real carrot when a picture does the same job?

You are an ass.
So why do you chase this imaginary carrot wearing that heavy plow? Because you’re an ass, your mother and father were asses, and your grandparents – all asses. From the day you were born you were destined to wear that plow harness and make money for those kings and queens, and neither you nor your family could do anything about it. You like your family were taught to chase the carrot. You were taught that the carrot was good, and that it was something to aspire towards and that anything else was unacceptable.

In fact, everything you’ve done from your childhood until now is part of a cleverly developed plan to make you believe that you are an ass and that you cannot live one day without your beloved carrot (although unbeknownst to you, you will never actually have a carrot). You were trained, manipulated and coerced to love carrots and sadly you had no say in the matter, but neither did you care — You love freaking carrots.

From your teacher to your boss, your lover and your friends — no matter where you look, asses and a desire for carrots abound — apparently the royal plan is working.

The plan is so deeply embedded into everything in our lives that has become the standard of living — the standard of the carrot. And you are the ass, chasing that carrot.

You are such an ass that you think the people who don’t have carrots as nice or as big or as orange as yours were less of an ass than you. And to this day you aspire to be an even bigger ass than you are chasing even more “promising” carrots.

Clearly, you are an ass. But are you a free ass? Or are you a slave of your own ignorance, or possibly something worse?
To be continued.

Of course, in this backward ass-hat of a nation some people actually prefer luxury sedans over rocket ships. Can you believe it?

80% of Americans Are Destined For a Life of Mediocrity
So go ahead and get out of consumer debt, (you shouldn’t have been there to begin with, but eh, credit happens). Go to college and get professional credentials, (hell, put your whole family through college via the 529 College Savings Plan or Upromise). Work everyday for the next 40 or so years and live off a PHAT retirement check (and hope that you did all the right things while you were young and impressionable). Live, work, learn and play by the rules and tricks established by the money blogosphere and you MIGHT be one of the most deep-pocketed, well-respected, family-cherishing, environment-saving, middlesters on your posh, pear-treed, suburban, gated-community, block. You MIGHT even be worth an easy million with a fancy Lexus or Lincoln rubbing elbows with the waspiest of wasps!

Imagine with me if you will ….

Aaaahhh, Lexus …. (dream bubbles)

–And let me be clear, that’s a big “might” — as in “maybe”.

Lovely, but not likely…

Despite all the knowledge and wisdom of the googled world most people will not achieve even that type of middle-class success. Bills and taxes will still need to be paid, medical costs will increase with age, and a plethora of unforeseeables make achieving real middle-classness a moving target. Americans are completely blindsided by these issues and many more, not least of which is their own ignorance or incompetence.

Most people are “Middlesters“!

Think about it … Most people:

+ are driven mostly by their emotions.
+ aren’t smart or lucky enough to get big breaks.
+ are resigned to a “balanced” life of cycled consumerism:
( paycheck -> taxes -> save -> spend -> expend -> dividend -> paycheck)
+ can’t tell the difference between marketing and real information.
+ don’t know exactly what they want or where they want to be in life.
+ don’t know who or what they are.
+ follow whatever seems popular (to their peers).
+ define themselves in terms of other people.
+ prefer to fit in rather than to be different.
+ are judgmental and prejudice.
+ think that being right is about being “right” (or first).
+ are afraid of changes and challenges.

–This is a recipe for mediocrity.

Each of these issues is a potential stumbling stone to knock you off course. Without buckets of luck or opportunity pouring on your doorstep these stones become a real hindrance to progress.

In my continued quest to escape the ghetto, free myself of those Middlester “chains”, and become a Millionster I’ve been able to identify some of these issues in myself and address them accordingly — others I’m still working on.

What about you?

I don’t actually have any virus protection software on my computer because it just slows everything down and I don’t visit sites that I don’t trust anyway. I don’t get viruses. My system’s lasted me about 8 months without any problems until the other day when I was doing some routine clean-ups and set her to start in safe mode to give her a nice flush. When my compy restarted I was greeted with the infamous Blue Screen of Death at every restart and I wanted to cry.

I called Dell thinking they would have some magical solution, but no, after being on hold for over an hour, the tech support from India told me to do a repair install of Windows. Thanks, I knew that.

So I was doing a repair install of Windows and everything seemed hunky dory until Windows setup asked me for a driver cd that I didn’t have. I downloaded the driver on my laptop, burnt the cd, and it was running great until the system restarted in safe mode and I got an error message “cannot run setup in safe mode”. Great. This happened about 5 times in a row before I realized I had to change the boot record. Bah - another 3 hours wasted.

I changed the boot record, setup ran again, and it was great. This time around the drivers for my USB mouse and keyboard didn’t load so I couldn’t respond to any of the prompts in Setup, and I was essentially stuck. Eventually I tricked the computer into loading my mouse drivers.

Two days later Windows was up and running again complete with all of my important files.

I was so relieved I went and checked my sites, and downloaded some stuff just to make sure I wasn’t dreaming.

What did I learn from all this? Never take your system for granted! Backup! Backup! Backup!

Oh, by the way. Don’t automatically think that your hard drive is lost if something goes wrong, there are ways of getting yer stuff back!

The Best Customer Service
The thing that I like most about USAA is that they really look out for the best interest of their members and they go out of their way to show it. A couple of years ago when I couldn’t get a credit card to save my life USAA came to my aid. I was on the phone setting up my checking account and I was complaining to the rep how I was having a hard time getting a credit card despite my income. She put me on hold and within a few seconds she had someone on the phone asking me some basic financial health questions. Two minutes later I had a credit card with a $10,000 limit. I was ecstatic. Thanks to USAA I was able to generate a positive credit history and get more cards with higher limits.

It doesn’t end there. USAA has been there with me on every step in my financial journey. When I went to go look at houses in Austin, TX, USAA provided me with a pre-approval letter for a $300,000 mortgage and topped the whole thing off with their own certified Real Estate agent who drove me around town!

I’m completely heads over heels for USAA, but I’m not the only one:
a reader, Jenney says:

I’ve been a member of USAA since 1991, the year I went to college. I started out with a $500 USAA MasterCard, which my mom cosigned for me so I could have an emergency card at college.

Now, 15 years later, I still have that MasterCard. I also have two free USAA checking accounts (only use one at the moment), a USAA consumer loan, a USAA auto loan, USAA auto insurance on two cars, and a USAA Roth IRA.

After all these years, and having had so many products and services from USAA, I can honestly say, without any hesitation whatsoever, that USAA is hands-down the BEST company I have EVER done business with.

They have absolutely the best customer service there can possibly be. In over 15 years I can count only one time that USAA messed something up, and even then it wasn’t a big deal and was resolved right away. Any other minor hiccups have been resolved quickly and without hassle or frustration.

With #1 Ranking awards in each of their financial services from big names like CNNMoney, Business Week, Kiplinger and JD Powers to name a few, it’s no secret that everyone who has USAA loves it.

A Recently Rebooted USAA.com - Login

The friendly user interface design of USAA.com helps you easily access the information you need. Get access to financial health articles, tools, calculators and a plethora of information all on the main site.

Overview of Accounts, Investments, and Insurance

The Overview screen gives you a summary of all your accounts and messages. Simple tools to transfer money, invest and make payments make banking with USAA a breeze.

Paperless Correspondance Makes Life Easier with USAA

Sick of the pile of paper or just trying to save a tree, USAA electronic document service is a secure and convenient way to stay updated on all your important documents, disclosures and agreements. You can view docs in PDF even with Acrobat!

Services Provided by USAA

Checking
Free ATM Use Worldwide, Free USAA Deposit@HomeSM, Free Rewards on Debit Card Purchases with No Annual Fee, Combine Credit, Debit Rewards Points , Free Online Bill Payment Service , No Monthly Service Fee , Pay Interest, Free Checks.

Savings
4.25% APY, $25 Minimum to open, Basic account great for everyday savings.

Credit Cards
USAA Platinum Master Card and USAA American Express with great rates, no annual fees, and awards! I paid for my flight to Austin using points from my rewards program.

Loans and Mortgages
They really work with the members to find loan packages that are affordable and reasonable. I have absolutely no complaints here! According to other members it’s easy to get refinancing for your home mortgage if you qualify. Of course, if you’re buying a new home they have their MoversAdvantage service which will hook you up with the best performing Realtors in your area.

Investing Products
Unlike other investment firms, USAA doesn’t charge a sales fee for their Mutual Funds. I’ve play around with their USAAX fund until I’m ready to do some real investment. The returns have been modest, and the service is easy to use.

Web Bill Pay
The Web Billpay service is excellent. I’ve been using it now for several years and have never had a problem with it. You can set up e-billing, automatic payments, one-time payments, etc. With the exception of the monthly rent, ALL of our bills get paid online — even those going to billers who don’t offer electronic banking. USAA cuts a check to them and I have never had a check arrive late.

Auto Insurance
I’ve had insurance with USAA for a number of years now and I have no complaints. I’ve given them all kinds of issues like paying my bill late or forgetting to renew, and they were there patient and helpful as ever. The ONLY bad thing I’ve heard about the auto insurance is from people who get into accidents with other USAA members. Their payouts are always very low! Bad for them good for us. Hehe.

Home Owners/Renters Insurance
Very conveniently priced. I pay about $1/mo for renters insurance, but then again I don’t have any “high end” home furnishings other than my computers to worry about — for now at least. Again no complaints.

Not Your Traditional Brick and Mortar Bank
To the dismay of a people who find security in typical brick and mortar banks, USAA has no branches or ATMs so you can’t just walk in and deposit a check. (But if you’re one of those up and coming “new rich”, you want to save time and money so this doesn’t matter to you!) To get access to your cash offline you’ll have to use ATMs that charge fees, but USAA has an answer for this. You get 10 free ATM withdrawals per month; after that it’s $2/withdrawal. In addition, USAA refunds you up to $15/month in fees other banks charge to use their ATMs, anywhere in the world. So unless you withdraw cash using ATMs all the time, the ATM usage is practically free.

What about deposits? USAA has an answer for that too. You can mail deposits to USAA in prepaid envelopes, and they are usually cashed in 3 business days. Even better, if you need the deposits cashed right away you can send them to USAA via The UPS Store for free where they’re overnighted and in your bank account within one business day. For even faster transactions, USAA has their Deposit@Home service which allows you to scan a check and send an image for instant deposit!

How Can I Get USAA?

USAA seems like a great place to do your personal banking and more and now you want USAA! Well don’t get your horses too high yet, USAA has exclusive access for military personnel and family.

To see if you qualify for USAA find out here: Am I Eligible for USAA Financial Services

Who is Eligible?

Membership is open to:

* Children/Spouse of USAA members.
* Active-duty officers and enlisted personnel.
* National Guard and Selected Reserve officers and enlisted personnel.
* Officer candidates in commissioning programs(Academy, ROTC, OCS/OTS).
* Recently retired or separated military personnel.
* Former USAA members who had auto or property insurance.

Of course if you aren’t eligible for USAA, my second choice bank is Washington Mutual. Sign-up for a free checking out!

It’s funny that a lot of people who are eligible don’t even realize it. If you think you know someone who might be eligible for USAA send them this article so they don’t miss out!

Salute to Armed Forces Money and Life Blogs
For military matters and more check out some of these fine blogs:
Money For Military
Dimes to Dollars
Active Duty Military Money and Matters
Paradise Found
Life Lessons From a Military Wife

Learn More About USAA on Wiki

You can have anything you want! Check it out!

So far so good on the jump from 550 to 603. Congrats! I’m glad you’re taking control of the situation with your credit score. It is frustrating since you may not see some of your efforts to improve your score rewarded right away.

1. How can I establish credit and not pay crazy fees?

I had this problem when I started fixing my score. My first recommendation would be to check and see if your bank has any credit cards and try to apply for one of their lower tier cards. They’ll have first hand information on your finances and might help you out. I bank with USAA and Wamu, both of whom helped me get my first credit cards.

If for some reason that doesn’t work out, your next avenue would be to get a secure credit card. Usually you have to pay a $200-$500 deposit to setup a secure card and essentially you are taking credit out against yourself. You have to pay the balance in full each month, and it’s a great way to get started on establishing credit especially if you’ve had some problems in the past. I found these secure credit cards that should help you get started:

Make sure you stay on top of these cards, because if you don’t pay them on time, guess what? They go on your credit report. That almost defeats the purpose of having a secured card — which are supposed to be like training wheels on your credit. Once you outgrow these guys you move on to the better cards with better rates. One thing you have to keep in mind about other non-secured credit cards is that if you don’t have a good credit score you’re not likely to be eligible for the cards that have good rates and no fees.

2. How long does it take for a collection notice to be removed from my credit report?

It will take up to 7 years to for collection notice and other negative marks on your credit report to be removed. After which time you can contact the 3 credit reporting bureaus Experian, Equifax, and Transunion to have them removed. You have to be cautious though when dealing with collection agencies because they often times use whatever trickery they can to get their money. There are times when NOT paying off old collections is advisable, especially if it’s close to being written off. Beware if you contact the collection agency or make any reference to paying off the account — they will try to use such communication as justification for changing the initial account date which in effect will make you wait beyond the original 7 years! This is a scam. Remember paying off collection debts doesn’t do anything to increase your credit score!

3. I have some collections paid and I saw that if they are paid it takes 2 years to fall off your credit report. Is this true?

Nope, see the previous answer. 7 years!

Try the Suze Orman Credit Report Repair Kit or if you worried about your score changing you should try the Score Watch that will give you updates to your credit report any time there is a change or inquery! I’ve used both of them =)

Don’t get me wrong. I think it’s great that I have this nice paying job at Fortune 500 company and all but it is absolutely one of the most boring, unfulfilling jobs I’ve ever had. To make matters worse I moved to within 5 minutes my work place at the edge of suburbia with a view of the freeway just to avoid traffic and get to work on time.

As the days sludge on I’m counting the days until I can escape this prison I’ve created for myself.

I decided that:

• I’ll give the job a year to inspire me, otherwise I’m leaving
  - good thing that year is almost up.
• A year is a nice roundabout figure to have on my resume at this boring but otherwise prestigious workplace
  - in case I don’t get my business running up in time and need to get another job.
• If I stay for a couple months longer I could get wait it out and get my bonus but…
• If I get a job that pays me 10-15k more than I’m making now I’d leave yesterday
  - it wouldn’t make sense to wait for a 2-3K bonus.

I purposefully got a short-term apartment lease in anticipation of the year coming up which is only a month and half away now.

In the meantime I’m still working on getting the pieces of my business in place. If all goes well I won’t need a job by March!

I still have the marvelous task of deciding where I want to live for $200k. Anyone have any suggestions?